1. Field of the Invention
The present invention relates generally to software-based methods and tools for managing a business, and more particularly the present invention relates to a method of managing a business through integrated planning, performance and forecasting modules.
2. Scope of the Prior Art
In the current business climate, the intersection between technology and management has produced its share of both good and bad results. With the expansion of the information age and the use of computers, business managers have ready access to myriad data concerning both their operations and the conditions and performance of their industry competitors. On the other hand, access to information has lead to a number of high-profile companies becoming unraveled due to corporate malfeasance. In response to this behavior, the Sarbanes-Oxley Act was enacted in the summer of 2002 to require stricter reporting, disclosure and forecasting on behalf of large corporate entities.
The confluence of greater access to information and greater government regulations has lead to an unfortunate Catch-22 for many business managers. While there is much more data to use, how and when to process that data has become a more complex question. In short, today's business mangers, both big and small, require larger and more powerful tools to ensure the profitability of their company while simultaneously maintaining a compliant corporate culture. There is thus a need in the art for a business management tool that is configured to receive and process various data sources for planning, performance and forecasting purposes. Moreover, there is a need in the art for a business management tool that is configured to utilize essential data related to productivity, hiring and seasonality for the planning, performance and forecasting purposed noted above. Finally, there is a need in the art for a business management tool that is configured to measure and assess risk in the areas of revenue planning and forecasting. That is, there is a need in the art for a business management tool that can readily advise managers of those conditions and variables that subject the business to the most risk.